Seven Democrats want to resume negotiations on the CLARITY Act after its failure in the U.S. Senate, where the motion received only 49 votes against the 50 needed, with 60 required. Republican Senator Thom Tillis filed a motion allowing a reconsideration of the vote, but eleven more votes are still needed to reach the required threshold. Two sticking points remain: Donald Trump’s financial interests in the crypto sector and the issue of interest-bearing stablecoins, which pits traditional banks against crypto platforms. The failed vote caused Bitcoin to briefly drop below $76,000, but the market subsequently showed relative resilience. Adoption of the CLARITY Act could clarify SEC and CFTC jurisdiction, reduce regulatory uncertainty, and serve as an accelerator for Bitcoin’s bull run.
Source: Read the original article
